NCS Multistage
Engineering tools and support for oil-and-gas well completion and diagnostics.
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Profile
Engineered products and support services for oil-and-gas well completions are anchored by fracturing systems, well-construction products, Repeat Precision, and tracer diagnostics. The business serves producers and oilfield-service companies, chiefly in North America.
Engineers products and field support for oil-and-gas well completions and field-development work. Its portfolio combines fracturing systems, well-construction products, Repeat Precision plug systems, and tracer diagnostics used to execute and measure wells.
Sales are directed chiefly to North American producers, selected international markets, and oilfield-service companies. In-house engineering, design, and testing—centered on a Calgary facility that simulates downhole conditions—support product development.
Demand is tied substantially to drilling and completion activity in North America, which is influenced directly by oil and natural-gas prices. The business is party to a pending agreement to become a wholly owned Weatherford subsidiary, subject to closing conditions.
Company facts
Key statistics
Year to date +30.6% · Average volume (30d) 9.1K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | −$0.88 | −$1.71 | −94.3% | $37.6M | $38.4M | +2.0% | +3.48% |
| Apr 29, 2026Q1 FY26 | $1.33 | −$0.14 | −110.5% | $51.2M | $45.6M | −10.9% | −28.07% |
| Mar 4, 2026Q4 FY25 | $0.70 | $1.60 | +128.6% | $44.3M | $50.6M | +14.3% | +12.08% |
| Oct 29, 2025Q3 FY25 | $1.17 | $1.37 | +17.1% | $43.6M | $46.5M | +6.7% | −7.00% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $50.0M | $36.5M | $46.5M | $51.0M | $45.6M | $38.4M | |
| Gross profit | $20.5M | $11.6M | $17.9M | $19.9M | $16.6M | $13.9M | |
| Operating income | $4.3M | −$2.0M | $3.1M | $5.7M | $2.6M | −$5.6M | |
| Net income | $4.1M | $924.0K | $3.8M | $15.0M | −$371.0K | −$4.6M | |
| Diluted EPS | $1.51 | $0.34 | $1.37 | $5.34 | −$0.14 | −$1.73 | |
| Gross margin | 41.0% | 31.8% | 38.4% | 39.1% | 36.3% | 36.4% | |
| Operating margin | 8.6% | -5.6% | 6.6% | 11.2% | 5.7% | -14.6% |
Fiscal years (4-quarter sums)FY21 $118.5M · FY22 $155.6M · FY23 $142.5M · FY24 $162.6M · FY25 $184.0M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $31.3M · Total debt $7.6M · Total assets $177.6M · Shareholders' equity $120.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 2.62M · Float 830.8K · 31.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Advent International Corp/MA | 1.48M | 56.33% | 13F | May 15, 2026 |
| Robert Nipper · director | 125.3K | 4.77% | Form 4 | Mar 3, 2026 |
| Truffle Hound Capital, LLC | 80.0K | 3.05% | 13F | May 7, 2026 |
| Ryan Hummer · director, officer: Chief Executive Officer | 58.9K | 2.24% | Form 4 | Mar 3, 2026 |
| Tocqueville Asset Management L.P. | 58.7K | 2.24% | 13F | May 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 5, 2025 | Robert Nipper | director | −1,000 | $40.00 |
| Nov 3, 2025 | Robert Nipper | director | −3,147 | $40.00 |
Peers
- Halliburton
Completion tools, stimulation, and pressure-pumping overlap
- SLB
Completion technologies and production systems overlap
- Weatherford International
Integrated completions and multistage-fracturing systems overlap
- NOV
Completion tools and multistage-stimulation systems overlap
- Forum Energy Technologies
Stimulation, coiled-tubing, and well-construction products overlap
- Innovex International
Well-centric engineered products overlap across completion workflow
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NCS Multistage | $51.64 | −0.25% | $135.5M | 10.7 | 11.4 | 0.7 | +5.2% |
| Halliburton | $36.73 | +1.53% | $30.22B | 18.9 | 14.3 | 1.4 | +3.7% |
| SLB | $57.61 | +0.50% | $85.09B | 28.0 | 20.2 | 2.3 | +5.0% |
| Weatherford International | $93.79 | +0.01% | $6.72B | 18.5 | 15.3 | 1.4 | −8.2% |
| NOV | $20.79 | −0.91% | $7.48B | 80.7 | 19.8 | 0.9 | −2.5% |
| Forum Energy Technologies | $80.00 | −0.79% | $911.2M | — | 16.9 | 1.1 | +13.2% |
| Innovex International | $30.11 | −0.03% | $2.10B | 33.8 | 18.6 | 2.1 | +9.2% |
| Median | 28.0 | 17.7 | 1.4 | +4.3% |